Lee, Florida Property Taxes
The median property tax rate in Lee, Florida is 0.91%, slightly lower than the national median of 0.99% and significantly below Florida's state median of 1.14%. With the median home value in Lee at $89,939, the typical annual property tax bill amounts to $817, which is well under the national median of $2,690. Property taxes in Lee are determined based on the tax assessed value, which often comes in lower than the market value due to various exemptions, such as primary residence and agricultural exemptions. Gaining a thorough understanding of Lee's property tax system, exploring available exemptions, and pinpointing opportunities for reductions can lead to substantial yearly savings. Whether you're residing in the heart of Lee or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lee, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$818
$759
Ownwell’s Lee Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lee with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lee to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Lee, Florida
Property taxes in Lee, Florida, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lee is 0.91%, which is lower than the U.S. national median of 0.99%. Local government entities within Lee set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lee estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Lee's effective property tax rate to other counties in Florida and the national median. For comparison, the 32059 zip code has the highest median property tax rate of 0.91%, while the lowest median tax rate is also 0.91% within the same zip code. Understanding how these cities compare with Lee provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lee Tax Rate
0.91%
Average Madison County Tax Rate
0.91%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lee, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32059 | 0.53% | 0.72% | 0.91% | 1.61% | 2.00% |
Source: Ownwell
Property Tax Assessment Values Across Lee, Florida
In Lee, Florida, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Madison County Property Appraiser for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Lee, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Lee helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $817, found in zip code 32059.
Average Lee Assessed Value
$89,939
Average Madison County Assessed Value
$84,303
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lee, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32059 | $30,692 | $54,546 | $89,939 | $137,059 | $201,209 |
Source: Ownwell
Property Tax Bills Across Lee, Florida
In Lee, located in Madison County, FL, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and represents a percentage of the property's market value. For homeowners in Lee, the median home price is $89,939. Using this assessed value, the tax rate is applied to calculate the annual property tax bill. Homeowners in Lee can expect their property tax bills to vary, with the 25th percentile at $539 and the 75th percentile at $1,347. For those at the higher end, the 90th percentile tax bill reaches $2,113. These figures are influenced by factors such as property size, location, and any applicable exemptions. Comparatively, the national median property tax rate stands at 0.99%, making it essential for homeowners in Lee to understand how their local rates and assessed values impact their financial planning. This understanding helps homeowners anticipate their annual expenses and manage their budgets effectively.
Average Lee Tax Bill
$817
Average Madison County Tax Bill
$811
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Lee, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32059 | $298 | $539 | $817 | $1,347 | $2,113 |
Source: Ownwell
Don't miss the deadline to petition!
Dates |
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Links | |
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| Madison Property Appraiser | |
| Website | qpublic.schneidercorp.com |